Glance Technologies Inc. has closed its purchase of Blockimpact, a complete cryptocurrency and blockchain platform. The seller is Ztudium Inc. Glance trades on the Canadian Securities Exchange. The deal covers the technology itself. But Glance also wants Ztudium’s crypto know-how, so the two firms will keep working together as consultants.
As part of that arrangement, Ztudium CEO Dinis Guarda joins the Glance board of advisors.
The companies signed the definitive agreement on December 5, 2017. Under it, Glance takes over all of the intellectual property behind Blockimpact for US$1.1 million. Glance has already paid 80% of that sum. The other 20% falls due once Blockimpact is fully merged with Glance Pay, the company’s mobile payment platform. That work has now begun.
Blockimpact handles crypto and blockchain tasks from start to finish. It offers biometric ID and distributed ledger technology. It also has a chat tool for groups that works much like WhatsApp. In addition, users get a financial wallet and an open API.
A separate wallet holds crypto, tokens and regular money, while also converting between them with ease. Other parts of the package include a reward system, encrypted cyber security, in-app support and document sharing. On top of that, there are social network features and a peer-to-peer marketplace.
Glance Pay, the company’s core product, helps smartphone users choose where to eat and order goods and services. They can then pay, keep digital receipts, redeem deals and collect rewards. It also lets them talk to merchants directly. For merchants, Glance sells targeted in-app marketing and geo-targeted coupons. Besides that, it offers social media marketing, customer feedback tools, in-store messaging and custom rewards programs.
The system runs on proprietary technology. That includes free user apps for iOS and Android, as well as merchant manager apps. Behind them sits a large hosting setup with anti-fraud tools and very fast payment processing. Glance Pay has also signed licensing deals with